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GBPCHF recently reversed up from the support area located between the pivotal multi-month support level 1.16300 (former monthly low from the end of June) and the upper daily Bollinger Band. Given the strength of the aforementioned support level 1.16300 and the weakening of the previously strong sterling bearish sentiment – GBPCHF is likely to rise further toward the next resistance level 1.17400 (former support from July)
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